Translating Mahatma Gandhi Vision: Every Village has to Become a Self-Sufficient Republic to Reality Through Dr. Sir M. Visvesvaraya Scheme of 'Village Industrialization' and 'The Aga Khan Rural Support Programme: Empirical Research Findings'
M. R. K. Swamy
Om Sai Ram Centre for Financial Management Research
March 24, 2009
Journal of Financial Management and Analysis, Vol. 21, No. 2, December 2008
It is an established fact that debt-ridden and peasant farmers who are highly productive who form the bulk of the population especially in developing countries and for whom marginal propensity to consume is highly with practically no saving capacity and for whom the allowances and reliefs claimable by far outweigh their earned incomes, there is a strong financial management case for integrating the core population into the stream of 'organic' economic development though Engineer-Statesman, Dr. Sir M. Visvesvaraya's Scheme of Village Industrialization and the Aga Khan Model of Integrated Rural Development - all aimed at translating Mahatma Gandhi vision, 'Every Village has to become a self-sufficient Republic' to reality - it is in this context, the positive and progressive steps taken by the Government of India in implementing the Rural Roads Construction; Rural Employment, Village Democratization through Panchayati Raj Schemes which generate effective demand in the rural sector deserve our high commendation.
Keywords: Village industrialization, Peasant farmers, Village Republic
JEL Classification: D43, N55, Q13, Q19, I32Accepted Paper Series
Date posted: May 7, 2009 ; Last revised: November 7, 2011
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